Gasoline, ethanol prices begin to fall

Gasoline prices began dropping across the country this month as post-Labor Day drops in demand begin to be felt. The drop in Michigan was 14 cents per gallon from highs recorded over Labor Day weekend.

The US Department of Energy projects prices as low as $2.64 per gallon in December, owing somewhat to less expensive formulation requirements for winter fuels. The price of ethanol in Michigan last week was $2.65 per gallon, or 11% less than the average $2.97 price of gasoline.

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